Brand and Message Recall: The Effects of Situational Involvement and Brand Symbols in the Marketing of Real Estate Services

Abstract

Due to the commission structure there is little price competition in residential real estate brokerage services, and the local Multiple Listing Service (MLS) equalizes access to market information among brokerages. Real estate firms are thus faced with the challenge of standing out in a crowded market with few points of real competitive differentiation. Results of a telephone survey with 2,107 respondents reveal a relatively high level of top-of-mind awareness for the major firms, regardless of transaction intention. Recall for smaller firms was correlated with transaction intention consistent with theory of situational involvement. Overall, recall appears to be linked with the use of a powerful brand symbol.